Visa Estimates $109.1 Trillion in Global Commercial Spend in 2011

October 17, 2012 08:00 AM Eastern Daylight Time 

English: Visa logo (Photo credit: Wikipedia)

FOSTER CITY, Calif.--(BUSINESS WIRE)--Visa Inc. (NYSE: V) today released the annual global Commercial Consumption Expenditure (CCE) index, which estimates that global commercial spending reached $109.1 trillion in 2011. This represents 12 percent growth from the $97.4 trillion spent in 2010 and marks the first time since Visa created the CCE in 2004 that this spending surpassed $100 trillion.

“Underneath this growth lies a clear opportunity for financial institutions to optimize their commercial card programs to capture more spend with electronic payments and ultimately better meet the needs of their commercial and government clients.”

The strongest year-over-year growth rates came from Latin America/Caribbean region (19.4 percent), followed by Central/Eastern Europe, Middle East Africa region (17.4 percent) and Asia Pacific region (14.9 percent). Asia Pacific reported the largest share of global CCE spend, followed by Europe, the United States, Central/Eastern Europe, Middle East and Africa, Latin America/Caribbean, and Canada. In this year’s (2011) index, Asia Pacific’s spending share surpassed Europe’s for the second consecutive year.

“Despite a slow, but sustained economic recovery, we continue to see healthy expansion in commercial spending,” said Tad Fordyce, head of global Commercial Solutions, Visa Inc. “Underneath this growth lies a clear opportunity for financial institutions to optimize their commercial card programs to capture more spend with electronic payments and ultimately better meet the needs of their commercial and government clients.”

CCE Around the Globe

Listed below is a breakdown of estimated 2011 commercial spending by global geographic areas:

Geographic Area		CCE Spend 2010		CCE Spend 2011 (est.)		2011 Global Share			2010-2011 Growth
Asia Pacific		$33.1		$38.0		34.8	%		14.9	%
Europe		$28.6		$31.4		28.8	%		9.6	%
United States		$19.7		$21.0		19.2	%		6.4	%
Central/Eastern Europe, Middle East and Africa,		$7.1		$8.3		7.6	%		17.4	%
Latin America/Caribbean		$6.5		$7.8		7.1	%		19.4	%
Canada		$2.4		$2.6		2.4	%		10.0	%
Total Global CCE		$97.4		$109.1		100.0	%		12.0	%

In USD Trillions

CCE Methodology

The annual Visa CCE report provides standardized tracking of business and government spending globally and is recognized as an industry benchmark for measuring commercial spending. The CCE index captures business-to-business purchases to acquire goods and services used in production, wholesale and retail purchases of final goods, business capital expenditures, and government spending on goods and services. Adjustments are made to exclude capitalized expenditures such as construction and durable defense spending. Calculations measure transactions at basic prices, which include taxes on production. Retroactive adjustments are made as necessary to include revisions in officially published statistics and economic data for current and prior years.

Data sources used to calculate the U.S. CCE index include the Bureau of Economic Analysis (BEA) and U.S. Census Bureau, which conducts the Retail and Wholesale Trade Surveys. A variety of data sources were used in the calculation of the Global CCE index including the Organization for Economic Co-operation and Development (OECD), the Eurostat database, the STructural ANalysis (STAN) database, the General Government Accounts from the National Accounts of OECD Countries, the United Nations Statistics Division National Accounts Main Aggregates Database, Economist Intelligence Unit proprietary databases, and government data from several countries. A model developed by the Economist Intelligence Unit was used to estimate results for countries where government data was unavailable.

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